Gunnut pretty much covered all the bases, one thing I would like to add is that purchasing or having access to a barrel vice and, or action wrench could be a must. I have only taken the original factory barell from two Savage rifles but both were very tight from the factory and not near as easy to break free as I thought they would be after reading posts from others who claimed to have done the conversion.
One other thing, make sure you take the scope base screw that is closest to the barrel out, it is likely against the threads of the barrel.